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Wednesday, 22 June 11
BOOMING INDONESIAN COAL EXPORTS - BLEEDING INDIAN POWER INDUSTRY
 COALspot.com - Indonesia shipped 28.962 Million tons of coal in May 2011, up by 15.86 percent compared to April export of about 24.995 million tons, Indonesian coal industry sources said. 56.30 percent up year-to year.
China's Indonesian coal imports have jumped up drastically in May by 2.105 MMt compared to its April imports. Chinese coal imports from Indonesia in May was higher than India's imports from Indonesia. India has imported 6.368 million tons in May where’s China has imported about 8.21 MMt which was 1.841 million MT higher.
India has lost its largest Indonesian coal importer status to China first time in the last five months. India was the largest Indonesian coal importer since January 2011 followed by China and other Asian countries. China is expected to import more coal in this month and coming months to increase energy supplies to prevent a worsening of its summer power shortage in seven years.
According to analyst, China faces a power shortfall, and that may extend to 40GW this northern summer, surpassing its 2004 power shortfall. China’s benchmark power-station coal prices rose to the highest since October 2008 as summer electricity demand increased in the world’s fastest-growing major economy, as quoted by Bloomberg its report early this week.
According to Indian coal minister, Indian coal imports may be at 250 million tons per annum by 2016. Coal imports is unavoidable option for Indian utilities due to non availability of economically viable coal from domestic mines. However, according to Indian UMPPs, due to Indonesian government regulation that forces all coal producers must sell coal at government declared monthly prices, would cost them at least US$ 30 per ton higher than they previously budgeted.
"Implementation of this proposed new rule by the Indonesian government ( I.e., the law mandates all coal producers to sell coal at government declared prices) will adversely impact all existing and future imported coal-based power plants in India, including UMPPs," Ashok Khurana, the Director General of the Association of Power Producers, said as reported by an Indian paper.
“When Indian companies invest in Indonesia, they tend to have the intent to sell coal at cost, so that Indonesian business unit remained at no or negligible profits. Taking a holistic view, however, the cash flows in an integrated Indonesian coal mining and Indian power generation unit after this regulation will continue to be similar, except that income taxes will be paid in Indonesia, and the cash flows will need to be brought on the books on Indian power project after paying taxes in Indonesia through appropriate and innovative business structuring,” said Dipesh Dipu, director, at Deloitte, mydigitalfc reported.
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Indonesia has introduced bench mark pricing mechanism for its coal since February 2010, and it has implemented for the domestic supplies as well export market. The pricing was done on very transparent way using four internationally acceptable coal indices to generate monthly Indonesian coal reference prices for about 62 types of coal including 8 types of bench mark qualities.
The regulation also requires miners to report sales volumes, prices, and buyers every month to the government, allowing it to ensure that the rules are being followed. Violations can lead to revocation of mining permits. The price benchmark aims to prevent firms selling coal to affiliates at low prices to avoid taxes that hurts Indonesia's efforts to collect revenues from its massive commodity exports.
Ministry of Energy and Mineral Resources of Indonesia has set the June 2011 Indonesian Coal Reference Price for thermal coal at US$ 119.03 per ton per ton, which was 1.20 percent higher than May 2011 price of US$ US$ 117.61. Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur (arb) 0.8%, Ash Content (arb) 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 30 June 2011.
Indonesian bituminous coal of 5,500 kcal/kg NAR was offered at between $ 108 - 110 a ton, FOB vessel basis this week, slightly up from last week price, traders said.
According to Indian power industry sources opined that Indian UMPPs ( ultra-mega power project) suddenly caught in between as the concept of UMPP was implemented 4 to 5 years back. The large scale industrial houses in India have bided and secured UMPP licenses based on the open market prices /long term coal contracts from Indonesian producers (I.e., pre regulated Indonesian market). Now that Indonesian coal reference price mechanism is in place all the UMPP's are seeking Indian government’s assistance in revising the Power Tariff of UMPP.
Now, the bankers who have funded the projects are bit worried about the rising Indonesian coal costs versus the power sales price which was pegged at pre-regulation prices, Indian banking industry sources said. Now, we need to see whether Indian Government allows the UMPPs to revise the power sale prices based on Indonesian coal reference price mechanism.
As such India cement and steel industries were used to buy coal from South Africa and Australia on index base pricing mechanism since last four to five years. in view of the attractive profit margin levels, entire Indonesian coal producers migrated to Index based pricing for coal contracts . “Where's still many of the Indian utilities and private consumers are still procuring the coal on firm delivered basis. This concept is creating lot of confusion in the Indian trade circles” an Indian trader commented.
77.12 percent of total coal exports in May goes to China, India, South Korea, Japan and Taiwan respectively.
The coal export information within this article is provided by coalspot.com on an "as is" and "as available” basis. All details about, given in good faith, without guarantee. While every care has been taken to ensure the accuracy of information furnished in this article. COALspot.com shall be obliged if errors / omissions are brought to its notice for carrying out corrections in this article.
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Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
Saturday, 23 October 10
HEAVY RAINS NO DAMPENER FOR 2010 COAL OUTPUT TARGET, MINISTRY SAYS - THE JAKARTA GLOBE
The Jakarta Globe reported that, National coal production would likely meet the target set by the Energy Ministry despite unusually heavy rain this ...
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- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- The University of Queensland
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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